Jazeera Airways announces 1Q 2019 earnings

Jazeera Airways has announced its financial and operational results for 1Q 2019, reporting a 31.2% growth in number of passengers.

 

The Company’s operating revenue increased by 48.4% to KD21.3 million, while aircraft utilisation increased by 16.6% to 13.8 hours and yield increased by 6.8% to KD37.8.

Jazeera Airways chairman, Marwan Boodai, said: “Jazeera Airways had a positive performance in the first quarter, supported by a growing and solid network that today serves an expanding customer-base, a customer-centric approach that continues to invest in innovative services that not only give choices to our customers and add value to their experience traveling with Jazeera Airways, but also create new ancillary sources of revenue, and a strong balance sheet that remains debt-free.” 

The airline operated its third full quarter from its Jazeera Terminal (T5), which carried 529,640 passengers in 1Q 2019 and registered its first quarter of profitability. Terminal 5 has four gates, three connected to boarding bridges, a duty free, restaurants, convenience stores and the recently introduced self-check-in kiosks.

In its network, Jazeera Airways grabbed a 24% market share on the Kuwait-New Delhi route which was served by two airlines in 1Q 2019. The airline also maintained strong market shares on routes serving the Indian Subcontinent and Egypt, acquiring a 35% market share on Kuwait-Alexandria, 21% on Kuwait-Cairo, 44% on Kuwait-Assiut, 44% on Kuwait-Sohag, 67% on Kuwait-Luxor, 52% on Kuwait-Lahore, 31% on Kuwait-Ahmedabad, 88% on Kuwait-Hyderabad, 21% on Kuwait-Kochi and 22% on Kuwait-Mumbai. Jazeera Airways remained the only airline to serve Tbilisi from Kuwait.

2019 Outlook 

Boodai said: “2019 will be another milestone year for Jazeera Airways as we prepare to launch new routes in the Middle East, Indian Subcontinent and to the British capital, London. The airline will also take delivery of three new A320neo aircraft on order, while it continues to expand its product offer from the Jazeera Terminal.”